Pfizer Stock Down. Did the Company Ride the Covid Train for Too Long?

Has Pfizer put too many pharma eggs in the Covid basket?  Perhaps a changing stock price indicates an answer.

The Covid pandemic was extremely profitable for Pfizer. The Chief Executive Officer (CEO), Albert Bourla, rose to world prominence, and last year lectured at the World Economic Forum in Davos, the elite of global aspirations. The company’s Covid vaccine became the primary coronavirus jab in Europe. The pharmaceutical giant exerted so much influence in Europe that when Poland tried to get out of its contract with Pfizer for their Covid vaccine the company insisted upon payment. Despite the impact of war. Now, Poland has taken their complaint to Pfizer shareholders, urging the company to be a good “corporate citizen”. But the company seemed unfazed and even moved to raise the cost of their Covid jab because it has been a “multi-billion dollar” franchise. With their profits from the disease, Pfizer bought cancer specialist Seagen, obviously looking to expand beyond the pandemic. But the deal still has to go through a European Union investigation. With all of this, why is Pfizer’s stock price consistently under-performing?